Protégé Partners, the $2.4 billion emerging
manager specialist fund of funds founded by Jeff Tarrant and
Ted Seides, is branching into the hedge fund market.
New York-based Protégé will soon launch a
"best ideas" strategy that will make direct long and short bets
on corporate equities and bonds. Its portfolio will be
concentrated in 12 to 20 positions and themes and will be run
by Soros Fund Management alumnus Scott Bessent, who joined
Protégé last year.
Protégé's principals will personally commit
more than $30 million to the new strategy. The firm's funds